October 30, 2020

The Chinese regulator approves the purchase of Fox by Disney, according to CNBC

The Chinese regulator approves the purchase of Fox by Disney, according to CNBC



The Chinese regulator approved on Monday the proposal of Disney to acquire 21st Century Fox, as advanced by CNBC today, which has led to an increase in the shares of both companies on the Wall Street stock exchange.

Although the approval of other countries is still necessary, the CNBC points out that the approval of the Chinese authorities means a big step forward for Disney, after the regulators of the US competition. and the European Union endorse the agreement with conditions.

The news has meant a rise in the values ​​of both companies: Disney, which awoke with losses at the opening of the market, then rose around 1%, although it was again close to 0.3% at half session; on the other hand, Fox grew more than 2.6%.

Disney approved in December last year the acquisition of the majority of shares of Fox for 52,400 million dollars, although it had to increase its offer to 70,000 million for the attempt of the audiovisual group Comcast to take over the company.

The agreement, which could be completed in the spring of 2019, includes the Fox film division, the National Geographic and FX channels, Star TVE, and shares in Sky, the Endemol Shine group and the Hulu streaming television platform, as well as various broadcasters. regional sports

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